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PCP Re-Finance

TCE home 2021 Forums Car finance PCP Re-Finance

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    • #152074
      Alx
      Guest

      Hi Stuart,

      This may be self-explanatory. I currently have finance on a car with a VW dealer and have agreed to purchase a new car on PCP.

      I have agreed to the monthly payment on the new car, signed an order form with all the financials and put down a part deposit. I already have a car on finance with them, I am receiving notifications through their app on when the new car will arrive.

      Does the order form confirm I have been approved re-finance or will that happen when I go to pick up the car?

    • #152323
      Stuart Masson
      Moderator

      Hi Alx. Your new car purchase will require a new finance application. As part of the part-exchange process, the dealer will settle your existing finance agreement with the finance company, but you will still need to go through an application for a new finance agreement.

      The new finance contract won’t be signed until a few days before you collect the new car.

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